WEBVTT - All About That Peace Out Money 0:00:00.120 --> 0:00:03.119 Welcome to How the Money. I'm Joel and I'm Matt. 0:00:03.279 --> 0:00:25.400 Today we're talking all about that piece out money. All right, 0:00:25.480 --> 0:00:28.280 Joel Man, we are back. You're back from Orlando. We 0:00:28.520 --> 0:00:31.360 spent some time down at thin Con, which is a 0:00:31.400 --> 0:00:35.080 super nerdy financial conference. That's where money and media meat. 0:00:35.200 --> 0:00:37.360 We fit right in, dude. For me, what I loved 0:00:37.400 --> 0:00:40.120 about it was that being self employed for the past 0:00:40.440 --> 0:00:43.400 over ten years now, that I haven't had, I guess, 0:00:43.440 --> 0:00:45.840 an excuse to go to something like this where there's 0:00:45.880 --> 0:00:48.400 a big conference and folks are all talking the same language. 0:00:48.440 --> 0:00:50.800 You know, we're talking nerdy financial stuff. We're talking about 0:00:50.840 --> 0:00:54.440 financial independence, real estate, things like that. And to be 0:00:54.480 --> 0:00:56.040 able to do that with something that we care so 0:00:56.120 --> 0:00:59.600 much about was awesome. You know. Going there, we learned 0:00:59.600 --> 0:01:01.160 a ton. We got to meet a lot of people 0:01:01.160 --> 0:01:02.840 where I got to meet a lot of people. These 0:01:02.840 --> 0:01:04.399 are a lot of folks that you have known for 0:01:04.480 --> 0:01:06.120 years now, Yeah, but there's also a bunch of new 0:01:06.120 --> 0:01:08.120 people there this year that I never met to. Yeah. 0:01:08.120 --> 0:01:10.480 It was fun to reconnect because this was my fifth 0:01:10.680 --> 0:01:12.520 time at finn Con, right, So it's really fun to 0:01:12.560 --> 0:01:14.760 reconnect with people that I've gotten to know over the 0:01:14.840 --> 0:01:16.640 years and hang out with. But then it was also 0:01:16.720 --> 0:01:19.559 super fun to meet new people that I've never met before. 0:01:19.680 --> 0:01:23.200 But the thing is, you know, online we're interacting with 0:01:23.280 --> 0:01:26.720 people all the time on Twitter or on blogs or 0:01:26.760 --> 0:01:29.039 whatever that do similar things to what we're doing, people 0:01:29.080 --> 0:01:32.280 that we respect and admire and are We're just super 0:01:32.319 --> 0:01:34.920 interested in what they're creating and how they're helping people. 0:01:35.200 --> 0:01:36.760 And that's the cool thing about finn Con. It's like, 0:01:36.800 --> 0:01:40.120 really it's it's this atmosphere of people that want to 0:01:40.200 --> 0:01:43.800 help other people with their money exactly. Yeah, man, it's 0:01:43.800 --> 0:01:46.560 so cool. And so it's just like culture of service, 0:01:46.760 --> 0:01:49.680 and man, it just makes me think and want to 0:01:49.720 --> 0:01:53.240 redouble our efforts here, like let's give them something useful, 0:01:53.440 --> 0:01:56.040 right that every episode that we create, not only do 0:01:56.160 --> 0:01:58.960 we have fun, do we get to drink an awesome beer, right, 0:01:59.000 --> 0:02:01.200 but we get to you know, care for and interact 0:02:01.280 --> 0:02:04.040 with the people that listen to the show. Man. That's 0:02:04.080 --> 0:02:06.040 that's my favorite part. Every time we get an email, 0:02:06.240 --> 0:02:08.679 every time you know, the people that listen are interacting 0:02:08.680 --> 0:02:11.079 on our Facebook group. That's just that's so much fun 0:02:11.120 --> 0:02:13.200 for me. And so yeah, I love that part of it, 0:02:13.240 --> 0:02:15.400 and I love that all these other awesome folks at 0:02:15.400 --> 0:02:18.360 Finncon are kind of doing it in their own separate 0:02:18.440 --> 0:02:21.440 niche in their own blog or podcast or wherever they're 0:02:21.440 --> 0:02:24.040 reaching people, and it's it's a beautiful thing. So you 0:02:24.320 --> 0:02:26.360 mentioned new folks. It also reminded me of our new 0:02:26.400 --> 0:02:31.079 buddy Scott and he is working on a documentary on 0:02:31.160 --> 0:02:34.959 financial independence. It's called Playing with Fire and they launched 0:02:34.960 --> 0:02:36.679 a kickstarter, which used to do a lot as a 0:02:36.760 --> 0:02:39.840 kid playing with fire. That that is so true. Yeah, 0:02:39.880 --> 0:02:42.440 I played with fire a lot. But uh yeah, it's 0:02:42.440 --> 0:02:44.079 a documentary that they kicked off and they launched a 0:02:44.160 --> 0:02:47.320 kickstarter at the beginning of the conference and it is 0:02:47.360 --> 0:02:52.200 doing incredibly well. We are supporters of that documentary as well. 0:02:52.200 --> 0:02:54.320 Scott was a great dude. I actually met him kind 0:02:54.320 --> 0:02:56.520 of randomly and like in the elevator. That's what's so 0:02:56.560 --> 0:02:58.080 cool about something like this, right, you just kind of 0:02:58.080 --> 0:03:00.680 bump into somebody, start chatting trins out. He just had 0:03:00.680 --> 0:03:03.920 a trailer to his documentary played at the opening keynote. 0:03:04.160 --> 0:03:06.919 When I saw it, I was like, Scott, this is fantastic, man. 0:03:06.919 --> 0:03:09.600 This is gonna be so good and I'm super excited 0:03:09.639 --> 0:03:11.720 to just see you know how this is gonna play 0:03:11.720 --> 0:03:13.080 out and just how this is going to have an 0:03:13.080 --> 0:03:15.760 impact on not just the money in media, but just 0:03:15.800 --> 0:03:18.840 specifically to financial independence. Right. But yeah, we want to 0:03:18.840 --> 0:03:21.280 get that information out there for you as our listener, 0:03:21.320 --> 0:03:23.800 if you want to go check it out, it's playing 0:03:23.800 --> 0:03:27.280 with fire dot c O. And so we'll post a 0:03:27.280 --> 0:03:29.919 link to in the show notes to that Kickstarter page, 0:03:29.960 --> 0:03:33.359 to that website. Because yeah, Scott's an amazing dude, and 0:03:33.800 --> 0:03:36.280 the documentary looks like it's gonna be amazing because it 0:03:36.320 --> 0:03:38.240 follows him and his family and kind of their path 0:03:38.320 --> 0:03:41.120 to financial independence. He's got a little daughter. It's just 0:03:41.200 --> 0:03:42.760 kind of cool to see how they grabbed ahold of 0:03:42.760 --> 0:03:44.880 it and kind of changed the way they lived, which 0:03:45.040 --> 0:03:47.200 not just getting their finances together, but man, as we've 0:03:47.200 --> 0:03:49.680 talked about in regards to financial independence, it's kind of 0:03:49.720 --> 0:03:52.560 this wholesale life change, focusing on the things that actually 0:03:52.600 --> 0:03:55.320 matter and not just money and spending as much as 0:03:55.360 --> 0:03:58.320 you can, right right, And so so yeah, this's gonna 0:03:58.320 --> 0:04:00.720 be a cool documentary. But also inside that he interviewed 0:04:00.760 --> 0:04:04.800 so many people that are just amazing thinkers in this space. 0:04:05.080 --> 0:04:07.520 So it's gonna be really fun from an artistic standpoint, 0:04:07.520 --> 0:04:09.360 it's gonna be really fun from the interviews that are 0:04:09.400 --> 0:04:12.160 in there and just following Scott and Taylor's story, so 0:04:12.200 --> 0:04:13.800 I'm super stoked to see it. It It looks like it's 0:04:13.840 --> 0:04:16.360 gonna be released in February, so yeah, we'll pust the 0:04:16.440 --> 0:04:18.160 link there, and I would just encourage anyone just go 0:04:18.200 --> 0:04:20.000 give a few dollars, just be in support of it 0:04:20.000 --> 0:04:22.360 because it's gonna be really fun. And you know, Matt 0:04:22.400 --> 0:04:23.960 and I are excited to go to a screening when 0:04:23.960 --> 0:04:26.680 it comes to the Southeast, comes to Atlanta. We're totally 0:04:26.680 --> 0:04:28.640 gonna be there and do whatever we can to support 0:04:28.680 --> 0:04:31.279 this documentary. It's it's really neat. Yeah, man, that's right. 0:04:31.480 --> 0:04:33.920 So let's mention the beer that we're drinking today. Matt. 0:04:34.080 --> 0:04:36.000 This is only our second home brew we've ever had 0:04:36.000 --> 0:04:38.000 on the show, but I'm really pumped. So today we 0:04:38.080 --> 0:04:41.279 have a beer from I guess a brewing group, a 0:04:41.279 --> 0:04:44.160 group of guys that gets together and they call themselves 0:04:44.400 --> 0:04:48.480 the Yeast Atlanta Brewers, which is awesome because we live 0:04:48.920 --> 0:04:51.640 in East Atlanta and these guys are the Yeast Atlanta Brewers, 0:04:51.800 --> 0:04:55.240 and so this was really kind of John. He donated 0:04:55.320 --> 0:04:57.520 a four year old beer that he made that's been 0:04:57.560 --> 0:05:01.480 like just chilling uh in his in a seller. It's 0:05:01.520 --> 0:05:04.520 got a legit seller with with you know, lines on top. 0:05:04.839 --> 0:05:06.719 He's got it all. So I'm super excited to have 0:05:06.760 --> 0:05:09.160 this one. It's an ud bruin uh And we've had 0:05:09.200 --> 0:05:11.400 that style actually recently on the show. Yeah, so we 0:05:11.560 --> 0:05:14.240 kind of fun to compare a d bruin from last 0:05:14.240 --> 0:05:15.800 week that was kind of made by the pros and 0:05:15.839 --> 0:05:17.640 then this one made by the guys that live in 0:05:17.640 --> 0:05:20.400 our neighborhood. All right, Matt, let's get into the subject 0:05:20.600 --> 0:05:23.600 for today. We're all about that peace out money. And 0:05:23.680 --> 0:05:26.560 this is kind of a topic that people have discussed 0:05:26.560 --> 0:05:29.880 from time to time. And the most popular term I've 0:05:29.920 --> 0:05:32.679 heard used for peace out money, that's what we're gonna 0:05:32.680 --> 0:05:34.479 call it, but a lot of people call it f 0:05:34.640 --> 0:05:36.839 you money in the financial space. And so we're gonna 0:05:36.880 --> 0:05:38.400 talk about like why we don't call it a few 0:05:38.440 --> 0:05:41.239 money in just a second, But really, peace out money 0:05:41.640 --> 0:05:44.080 addresses this core issue because, as it turns out, the 0:05:44.120 --> 0:05:46.680 majority of Americans are living paycheck to paycheck and they 0:05:46.680 --> 0:05:48.760 don't even have a thousand dollars in the bank. And 0:05:48.800 --> 0:05:51.280 so when that's the case, you feel tied to your 0:05:51.320 --> 0:05:53.760 job and like you have no other options, and so Matt, 0:05:53.880 --> 0:05:55.839 you and I feel like peace out money. That's what 0:05:55.839 --> 0:06:00.200 we're gonna call it. That this can majorly address that issue. Yeah, 0:06:00.240 --> 0:06:02.200 that's right. So that's the answer, right, And so we're 0:06:02.200 --> 0:06:05.400 defining it as just having enough money to leave a 0:06:05.440 --> 0:06:09.080 situation where you could technically stay. You know, you're finde there, 0:06:09.080 --> 0:06:11.839 you're making money even though you could technically stay, you're 0:06:11.880 --> 0:06:14.320 not going to You're going to choose not to, and 0:06:14.360 --> 0:06:17.120 so to have the money that allows you to do that. 0:06:17.120 --> 0:06:19.560 That's how we're going to define piece out money to 0:06:19.720 --> 0:06:22.479 essentially throw up the peace sign with your fingers. Piece 0:06:22.520 --> 0:06:24.400 out like two fingers out one right, because if you 0:06:24.480 --> 0:06:26.159 money is like the one finger, and piece out money's 0:06:26.160 --> 0:06:28.359 like the two fingers, right, And so you're you're saying, 0:06:28.440 --> 0:06:30.880 all right, you know what, I've got what I need 0:06:30.920 --> 0:06:33.000 and I'm out of here, whatever it is. And so 0:06:33.040 --> 0:06:34.640 we yeah, we think you can do this in a 0:06:34.720 --> 0:06:37.160 respectful way. And we'll talk about like all the benefits 0:06:37.160 --> 0:06:39.200 of having this piece out money, like how you actually 0:06:39.400 --> 0:06:42.279 a crew piece out money and what it's actually used for. 0:06:42.520 --> 0:06:44.719 But ultimately, piece out money is kind of more of 0:06:44.720 --> 0:06:47.279 an attitude than it even is a financial position. Right. 0:06:47.440 --> 0:06:49.400 It is important to have that money in your bank 0:06:49.440 --> 0:06:51.560 account to back you up when you're ready to say 0:06:51.680 --> 0:06:54.120 your piece out to a job, or piece out to 0:06:54.160 --> 0:06:56.640 a situation that you're in that you find yourself uncomfortable 0:06:56.880 --> 0:06:58.840 and and having that amount of money in your bank 0:06:58.880 --> 0:07:02.640 account to back you up, right is crucial. But it 0:07:02.760 --> 0:07:05.120 also is an attitude. And I like this quote from 0:07:05.160 --> 0:07:08.279 Johnny Carson, former late night host, right, he said, all 0:07:08.279 --> 0:07:10.280 that means is that I don't have to do what 0:07:10.440 --> 0:07:12.720 I don't want to do, right. And I've heard that 0:07:12.760 --> 0:07:14.960 from a lot of performers, especially if you're an artist, 0:07:15.520 --> 0:07:18.960 if you're a stand up comedian and someone says, hey, 0:07:19.240 --> 0:07:21.200 you can't say that, Hey you need to take this 0:07:21.240 --> 0:07:23.400 down from your website, whatever it is. I remember an 0:07:23.480 --> 0:07:25.560 article that Mr money Mustache wrote a while a while 0:07:25.600 --> 0:07:27.960 back that a credit card issuer wanted him to take 0:07:28.040 --> 0:07:29.920 one cuss word that he put on his website off 0:07:29.920 --> 0:07:32.760 of it, and it was gonna mean forty dollars for him, 0:07:32.880 --> 0:07:35.400 but it meant ultimately a compromise of his values to 0:07:35.440 --> 0:07:37.400 do it, and so he said, no way, not gonna 0:07:37.440 --> 0:07:39.440 do it. That's the kind of peace out money that 0:07:39.440 --> 0:07:41.360 we're talking about. Get out of here. I don't need 0:07:41.400 --> 0:07:43.080 your money. I have to I'm gonna live life on 0:07:43.160 --> 0:07:46.200 my terms. Yeah. I think it was actually forty a month. 0:07:46.400 --> 0:07:48.520 Oh my gosh. Right, Yeah, that's a lot of money. Yea, 0:07:49.280 --> 0:07:52.000 if I remember right, it was a serious amount of Yeah, 0:07:52.080 --> 0:07:53.720 serious amount of money. I think it was forty forty 0:07:53.800 --> 0:07:55.200 k a month. We'll try to find that article on 0:07:55.200 --> 0:07:57.360 post a link to the show. Yeah, that'd be great. 0:07:57.400 --> 0:07:58.880 And kind of going back to the you know that 0:07:58.920 --> 0:08:01.240 the fu money. It's not that we're pose necessarily to 0:08:01.240 --> 0:08:04.200 the foul language, but it's just mostly the idea that 0:08:04.280 --> 0:08:06.800 you're burning things down as you leave. Right. You caught 0:08:06.800 --> 0:08:09.840 me all sorts of terrible things, but we just don't 0:08:09.880 --> 0:08:12.160 like burning bridges, first of all, Like we don't feel 0:08:12.200 --> 0:08:14.320 that that's, you know, how you should necessarily treat others. 0:08:14.320 --> 0:08:17.440 It's just not how we necessarily operate as far as 0:08:17.560 --> 0:08:21.680 finding revenge, you know, exacting revenge on somebody or feel 0:08:21.720 --> 0:08:23.800 like you're kind of sticking it to them. And then secondly, 0:08:23.960 --> 0:08:26.480 jobs and just other opportunities that are out there are 0:08:26.840 --> 0:08:29.920 just too well connected, you know, and so it's Honestly, 0:08:30.520 --> 0:08:33.440 it's in our best interest. It's in your best interest 0:08:33.600 --> 0:08:36.360 to not behave that way. The world is just so 0:08:36.440 --> 0:08:39.120 connected now, and chances are if you were to do 0:08:39.200 --> 0:08:41.880 something like that and really stick it to maybe a 0:08:41.920 --> 0:08:44.640 former employer, I don't think that would work out too 0:08:44.679 --> 0:08:46.920 well for you. Yeah, there's ways to say peace out 0:08:47.160 --> 0:08:49.640 with two fingers right whe where you're doing it in 0:08:49.679 --> 0:08:52.800 a kind of conscientious way. You're maintaining connections with people, 0:08:52.800 --> 0:08:56.080 You're maintaining a humanity and a human relationship to it. Really, 0:08:56.080 --> 0:08:58.240 what it is, it's about this mindset, and it's about 0:08:58.240 --> 0:08:59.800 having the money in your bank account to back it 0:08:59.880 --> 0:09:02.120 up that says, you know what, I don't need this 0:09:02.200 --> 0:09:04.560 job right now. I'm ready to move on to something else. 0:09:04.679 --> 0:09:07.120 I'm ready to go in a different direction with my life. Plus, 0:09:07.120 --> 0:09:09.360 our daughters just love saying peace out, you know, every 0:09:09.360 --> 0:09:12.600 time they leave there like piece out homies. I know, 0:09:12.640 --> 0:09:14.120 I think I got my daughter starreading to be on 0:09:14.320 --> 0:09:16.520 this stuff like that. So yeah, let's go ahead and 0:09:16.520 --> 0:09:18.520 move on to the benefit first. You know, having peace 0:09:18.520 --> 0:09:21.360 out money it allows you the ability to step away 0:09:21.559 --> 0:09:24.640 temporarily from a job. It could be for health reasons, 0:09:24.720 --> 0:09:27.720 for for you individually, or maybe even for a family member, 0:09:27.800 --> 0:09:30.360 or there might be just other sort of issues that 0:09:30.400 --> 0:09:32.880 might be going on with your family, or even honestly, 0:09:32.880 --> 0:09:36.080 to quit a job altogether. If there's just another opportunity 0:09:36.120 --> 0:09:39.719 that comes along, it's something that would be much much 0:09:39.840 --> 0:09:42.840 riskier if you did not have that piece out money. Yeah, 0:09:42.840 --> 0:09:44.240 if you don't have any money in the bank account, 0:09:44.280 --> 0:09:46.960 if you don't have anything backing you up financially, you 0:09:46.960 --> 0:09:49.560 can have the mindset that you want to piece out 0:09:49.559 --> 0:09:52.040 all you want, right, so you've gotta have that financial backing. 0:09:52.080 --> 0:09:54.080 That's what that piece out money is, is this money 0:09:54.080 --> 0:09:57.040 combined with your mindset. And it also emboldens you to 0:09:57.080 --> 0:09:59.040 ask for the things that you really want. So maybe 0:09:59.040 --> 0:10:01.120 you don't want to step away from your job. Maybe 0:10:01.120 --> 0:10:03.360 everything's fine, you love your job, you don't want to quit, 0:10:03.559 --> 0:10:05.320 But it also emboldens you to ask for those things 0:10:05.320 --> 0:10:07.839 that you want, maybe a different project or position you'd 0:10:07.840 --> 0:10:09.720 like to take. Well, it gives you that empowerment to 0:10:09.760 --> 0:10:13.040 ask for a raise or to negotiate even harder. Maybe 0:10:13.080 --> 0:10:15.560 it involves less schmoozing. Right, you don't have to be 0:10:15.640 --> 0:10:17.719 there for events that you don't want to be a 0:10:17.760 --> 0:10:19.720 part of. Or gives you the ability to opt out 0:10:19.760 --> 0:10:21.880 of meetings that you don't feel like are important for 0:10:21.920 --> 0:10:23.520 you to be a part of. Yes, so it lets 0:10:23.520 --> 0:10:26.800 you like call your own shots and be actively involved 0:10:26.800 --> 0:10:29.480 in the process of what your work looks like. And 0:10:29.520 --> 0:10:32.439 that's because it changes the outlook on what you're currently doing. 0:10:32.640 --> 0:10:34.720 You can actually appreciate your work for what it is 0:10:34.960 --> 0:10:37.800 and not just for that paycheck that's coming in. Awesome, man, 0:10:37.840 --> 0:10:41.080 I love that. You know, also something else you should 0:10:41.080 --> 0:10:43.520 hopefully be doing the right thing anyway at work, right, 0:10:43.880 --> 0:10:47.040 But I think having a little bit of that backing right, 0:10:47.040 --> 0:10:48.600 like you just said, a little bit of that piece 0:10:48.640 --> 0:10:51.719 of money can hopefully give you that additional courage, a 0:10:51.760 --> 0:10:54.599 little more fortitude to stand up for what's right, to 0:10:55.040 --> 0:10:57.800 kind of stand up for what you actually believe in 0:10:57.800 --> 0:11:00.520 instead of maybe being pressured sometimes to do the things 0:11:00.600 --> 0:11:03.520 that you feel that the company is doing. Sometimes you 0:11:03.600 --> 0:11:06.160 might feel pressured to do something that might be a 0:11:06.160 --> 0:11:09.440 little unethical or honestly even illegal, or take the most 0:11:09.480 --> 0:11:12.520 expedient choice. Yeah, yeah, exactly. And if that's the case, 0:11:12.679 --> 0:11:15.720 and even still hopefully money is not an issue for 0:11:15.760 --> 0:11:18.040 you to make the right decision, but having that they're 0:11:18.559 --> 0:11:21.200 definitely helps. Yeah, mat So on that note, I feel 0:11:21.240 --> 0:11:23.760 like it's really interesting that people with certain high level 0:11:23.800 --> 0:11:28.080 government jobs, especially with access to top secret information, and 0:11:28.200 --> 0:11:32.439 certain high level private sector workers just aren't eligible for 0:11:32.600 --> 0:11:36.480 some of these positions with access to greater information if 0:11:36.520 --> 0:11:38.600 they have high levels of debt or if they're just 0:11:38.640 --> 0:11:41.520 in a bad money situation, and that's because their employer 0:11:41.679 --> 0:11:45.240 or the government thinks that being in a bad financial 0:11:45.240 --> 0:11:48.760 situation opens them up to the possibility of blackmail from 0:11:48.840 --> 0:11:51.560 a foreign government or competing company. I think that that 0:11:51.600 --> 0:11:55.640 speaks volumes right of how our personal finances can impact 0:11:56.080 --> 0:11:59.680 at times our ability or willingness to do something that's 0:11:59.679 --> 0:12:02.439 expedient or better in the short term for us not 0:12:02.600 --> 0:12:05.280 thinking about the long term game. And this kind of 0:12:05.360 --> 0:12:07.440 idea of having some peace out money, of having some 0:12:07.480 --> 0:12:10.040 financial stability in your life allows us to say, you 0:12:10.080 --> 0:12:12.160 know what, no to the short term thing that might 0:12:12.200 --> 0:12:15.320 seem like the best for right now, for today, but 0:12:15.559 --> 0:12:17.400 ultimately in the end, we're going to be really bummed, 0:12:17.440 --> 0:12:18.600 and we don't want to tell our kids that we 0:12:18.640 --> 0:12:20.160 made that decision, and we don't want to have to 0:12:20.160 --> 0:12:21.600 live with it for the rest of our lives. We 0:12:21.640 --> 0:12:24.120 would rather do the thing that is right or the 0:12:24.160 --> 0:12:27.400 thing that that we think is best for us or 0:12:27.400 --> 0:12:29.560 for our company. But we might choose to make that 0:12:29.880 --> 0:12:33.319 quick and easy decision that ultimately isn't best, and it's 0:12:33.360 --> 0:12:36.120 because we're in a bad financial standing. And I will say, man, 0:12:36.240 --> 0:12:39.200 I don't know that I've made a necessarily a moral 0:12:39.360 --> 0:12:42.120 decision that was bad because of a bad financial standing. 0:12:42.280 --> 0:12:44.040 But I will say, when I had no money, I 0:12:44.080 --> 0:12:47.520 feel like I made stupider money decisions. I remember distinctly 0:12:47.600 --> 0:12:50.720 buying a car that was just cheap, and that cheap 0:12:50.800 --> 0:12:52.960 car ended up costing me more in the long run. 0:12:53.160 --> 0:12:56.080 It was just a bad money decision. And so when 0:12:56.120 --> 0:12:58.840 you don't have that financial backing, you're just prone and 0:12:58.880 --> 0:13:02.400 susceptible to making quicker decisions, and often ones that aren't 0:13:02.400 --> 0:13:05.640 as well thought through and can ultimately be more harmful 0:13:05.679 --> 0:13:08.400 for you further down the road. Yeah, man, I think 0:13:08.440 --> 0:13:11.440 that's absolutely true. Uh. And this also applies not only 0:13:11.480 --> 0:13:15.280 to jobs, but also in personal relationships. You know, you 0:13:15.360 --> 0:13:17.880 might be dating someone who you feel isn't like quite 0:13:17.960 --> 0:13:21.000 the right one. Better not you're married, I said, do 0:13:21.040 --> 0:13:23.720 you not me? Uh? And you'd call it quits maybe, 0:13:23.760 --> 0:13:26.880 except you feel a little, you know, financially dependent on them. 0:13:27.040 --> 0:13:28.680 And this could also be the case to like in 0:13:28.720 --> 0:13:31.319 a housing or a roommate situation, you know, like you've 0:13:31.360 --> 0:13:32.719 got a roommate or you feel you need to have 0:13:32.760 --> 0:13:35.160 a roommate because you're in a position of sort of 0:13:35.200 --> 0:13:37.520 financial weakness, like you don't have a lot of strength, 0:13:37.960 --> 0:13:39.520 and you're like, well, I need to take this on 0:13:39.640 --> 0:13:42.520 and this isn't a great situation, but I I need 0:13:42.559 --> 0:13:44.240 this roommate, you know, I need this to pay the 0:13:44.320 --> 0:13:46.240 rent or I need this to pay the mortgage. And 0:13:46.280 --> 0:13:48.000 you know, I think this could also even apply to 0:13:48.200 --> 0:13:51.319 unhealthy relationships with parents. A lot of times parents certainly 0:13:51.320 --> 0:13:54.760 have more money than children do, and sometimes it can 0:13:54.800 --> 0:13:56.360 kind of get weird, you know, it can get weird 0:13:56.400 --> 0:13:59.679 when there's money involved, and how that can affect the relationship, 0:13:59.720 --> 0:14:02.400 how that can affect the dynamics. And I think that's 0:14:02.400 --> 0:14:05.480 definitely something worth considering and worth keeping in mind when 0:14:05.559 --> 0:14:08.360 it comes to having the ability to have that money 0:14:08.360 --> 0:14:10.720 on hand. Yeah, and Matt, I think too. We're not 0:14:10.800 --> 0:14:14.040 advocating necessarily saying peace out to personal relationships, right and 0:14:14.080 --> 0:14:17.040 saying well I'm done with you, but having peace out 0:14:17.080 --> 0:14:19.440 money allows you to kind of change the dynamic of 0:14:19.520 --> 0:14:23.240 relationship that might be unhealthy or a relationship that you 0:14:23.280 --> 0:14:25.480 can see, you know what this it's time for me 0:14:25.560 --> 0:14:27.640 to move on, or if you know that it's not 0:14:27.720 --> 0:14:30.400 working out, you know, it's just feeling trapped in the 0:14:30.400 --> 0:14:32.480 same way that sometimes we feel trapped in our jobs, 0:14:32.720 --> 0:14:36.360 which our relationships right their employer employee relationships, but the 0:14:36.360 --> 0:14:38.440 same thing with you know, yeah, with interpersonal What makes 0:14:38.440 --> 0:14:40.760 me think about our friend Grant, who runs the website 0:14:40.760 --> 0:14:43.160 Millennial money dot com, and he tells a story about 0:14:43.160 --> 0:14:46.480 how when he was in his mid twenties moving back 0:14:46.600 --> 0:14:49.720 in with his parents and you know, eating dinner with 0:14:49.760 --> 0:14:52.040 them every night, and it just changed the dynamic of 0:14:52.080 --> 0:14:54.920 their relationship that he was living at home and his 0:14:55.000 --> 0:14:57.160 parents thought, you know, you know what, it's probably time 0:14:57.200 --> 0:14:59.480 for Grant to be like out of the nest, you know, 0:14:59.520 --> 0:15:02.160 doing his own thing. And he felt that dynamic, right, 0:15:02.200 --> 0:15:04.360 he understood, and he wanted to be out of the 0:15:04.400 --> 0:15:07.120 nest too, and so then he just kind of got 0:15:07.200 --> 0:15:09.280 him motivated to work harder and get that piece out 0:15:09.320 --> 0:15:11.080 money and feel like he could leave. And it wasn't 0:15:11.120 --> 0:15:12.600 that he want to say piece out to his parents. 0:15:12.800 --> 0:15:15.040 It was it was that the dynamic was off, it 0:15:15.120 --> 0:15:17.800 wasn't what he wanted to be, and having that money 0:15:18.080 --> 0:15:20.840 gave him that power right to bring that like relationship 0:15:20.960 --> 0:15:22.960 dynamic back to what he wanted it to be with 0:15:23.040 --> 0:15:25.360 his parents, where he wasn't dependent on them in his 0:15:25.400 --> 0:15:27.720 mid twenties, but where he kind of could have his 0:15:27.800 --> 0:15:30.440 own life. And I think at that point in your life, 0:15:30.440 --> 0:15:32.800 in your mid twenties, that's kind of the relationship you 0:15:32.840 --> 0:15:34.800 want with your parents. You don't want to be dependent 0:15:34.840 --> 0:15:37.840 on them. You you feel a sense of that. It's 0:15:37.920 --> 0:15:39.800 that it's kind of weird, right that you're still dependent 0:15:39.840 --> 0:15:42.240 on them at that age. And I remember going through 0:15:42.280 --> 0:15:45.120 that at at different times. Specifically, I moved back in 0:15:45.200 --> 0:15:48.000 with my parents for a few months when my roommate 0:15:48.040 --> 0:15:50.000 moved to another state and I was saving up my 0:15:50.080 --> 0:15:52.680 last few dollars to buy, you know, my first house, 0:15:53.080 --> 0:15:56.400 and that three months was like really hard for me 0:15:56.680 --> 0:16:00.000 as a year old to move back in with my parents. Um, 0:16:00.000 --> 0:16:02.080 I was like super thankful that I had that ability 0:16:02.120 --> 0:16:05.120 to go land there, but it was hard mentally. Relationally, 0:16:05.760 --> 0:16:09.360 I'm thankful that we're close. I love my parents, but 0:16:09.400 --> 0:16:11.360 it was weird, right, And and so I just think 0:16:11.400 --> 0:16:14.280 that that peace out money developing, that having that ability 0:16:14.640 --> 0:16:16.840 it can change the dynamic of relationship that you feel 0:16:16.880 --> 0:16:19.600 like has gotten tweaked in a way that you didn't 0:16:19.640 --> 0:16:21.480 want it to be. Yeah, man, that's right. There are 0:16:21.600 --> 0:16:24.320 countless benefits to having peace out money. Um. And as 0:16:24.360 --> 0:16:26.600 we talk about this too, it sounds like we might 0:16:26.600 --> 0:16:30.640 be talking even more about financial independence, and it's not 0:16:30.840 --> 0:16:32.640 the way we're defining it. In the way we're talking 0:16:32.680 --> 0:16:36.240 about it. Peace out money is different than being financially independent, 0:16:36.680 --> 0:16:48.280 and after the break we will tell you how. Okay, man, 0:16:48.400 --> 0:16:50.560 So we just touched on this, but having peace out 0:16:50.600 --> 0:16:53.960 money is not the same thing as hitting or achieving 0:16:54.000 --> 0:16:59.440 financial independence. And so specifically financial independence or PHI like 0:16:59.480 --> 0:17:02.000 we refer to it sometimes is being able to do 0:17:02.200 --> 0:17:06.160 whatever you want, whenever you want and essentially indefinitely. Right. 0:17:06.240 --> 0:17:10.040 It's sort of the pinnacle. That's that's the goal that 0:17:10.520 --> 0:17:13.840 a lot of us are sort of loosely chasing after, 0:17:14.040 --> 0:17:17.360 or some folks are going after it like hardcore essentially 0:17:17.400 --> 0:17:20.200 not having to work anymore where you don't need that income, 0:17:20.840 --> 0:17:23.119 all right, man. Yeah, So think of piece our money 0:17:23.160 --> 0:17:26.639 as more of many retirement compared to early retirement. Right, 0:17:26.720 --> 0:17:29.000 peace out money gives you that ability to change course, 0:17:29.040 --> 0:17:31.200 find a new career, or go back to school, even 0:17:31.280 --> 0:17:33.760 start a new business, even if you're not financially independent, right, 0:17:33.760 --> 0:17:36.320 because that that's like a big bar to try to 0:17:36.359 --> 0:17:40.960 achieve becoming financially independent. That takes usually for most people 0:17:41.440 --> 0:17:43.560 a lot more than a decade even yeah, yeah, years 0:17:43.560 --> 0:17:46.080 and years. But peace out money can be achieved rather 0:17:46.160 --> 0:17:48.679 quickly and gives you that ability to say, you know what, 0:17:48.760 --> 0:17:50.280 I don't have to do anything I don't want to 0:17:50.280 --> 0:17:52.600 do for the next three months. But there's some people 0:17:52.640 --> 0:17:56.200 that have prioritized many retirements, which means I take a 0:17:56.240 --> 0:17:57.959 little bit of time here. I take a little bit 0:17:58.000 --> 0:18:00.240 of time two years from now, uh, and I get 0:18:00.280 --> 0:18:02.159 to pursue the things that I want. I get to 0:18:02.160 --> 0:18:04.680 travel for a little bit, live cheaply, whatever it is. 0:18:04.960 --> 0:18:07.960 But I'm not committing myself to a full time day job. 0:18:08.320 --> 0:18:10.240 And think of peace of money kind of like that. 0:18:10.359 --> 0:18:13.480 It's not this full on early retirement. I'm done, but 0:18:13.680 --> 0:18:15.479